Opt-In for Courtesy Pay

What is Courtesy Pay? Courtesy Pay is a special kind of overdraft privilege. Unlike regular overdraft plans, it is not linked to a back up payment source, such as a savings account or a line of credit.

VCCU’s Courtesy Pay works to your advantage and as a protection if you make a purchase or a transaction for more than your available balance.

What are the standard overdraft protections that come with my account?

We authorize and pay overdrafts for the following types of transactions:

Checks and other transactions made using your checking account number

Automatic bill payments

What is not included in the standard overdraft protection?

ATM transactions

Non recurring Debit card transactions

How does Courtesy Pay work?

When you have insufficient funds to cover a transaction, a Courtesy Pay fee will be charged by the Credit Union for each item we pay. Courtesy Pay may cover items such as ATM withdrawals, up to a $1000 limit, (certain qualifications apply; $500 minimum) when funds are not available.

What does it mean if I opt-in?

Courtesy Pay will cover your account if you overdraw it by any of these:

Checks and other transactions made using your checking account number

Automatic bill payments

ATM transactions

Non recurring Debit card transactions

What fees will I be charged if VCCU pays my overdraft?

The Credit Union will charge a fee of $30* each time an overdraft item is paid.

How long will I have to repay?

Courtesy Pay is designed as a short term option to cover overdrafts. Once overdrawn, members will have up to 30 days to make a deposit to their account to repay the overdraft.

Please note: By selecting this coverage, members acknowledge that any deposit made into their checking account after an overdraft occurs will in effect repay the overdraft balance whether the funds are from an automated payroll deposit, social security deposit or other automated deposit or deposit by check.

Members who are unable to repay the overdraft within 30 days should contact the credit union to set-up a payment plan or make other arrangements to repay the amount owed.
*Effective 4/2017 and subject to changeOpt-In for Courtesy Pay